Edeltech Energy Lines Ltd signed a share purchase agreements to acquire 42.15% stake in Solad Energy Ltd from Zorlu Enerji Elektrik Üretim A.S. (IBSE : ZOREN) for approximately ILS 15.73 million ($4.3 million) on May 24, 2024. Zorlu Enerji to sells 4,215 shares, each valued at ILS 1 ($0.271), in the ILS 10,000 ($2,717.91) capital of Solad Energy Ltd, in which Zorlu Enerji hold a 42.15% direct shares, to its other partner (8.85%) Edeltech for the nominal value of the shares ILS 4,215 ($1,145.6), together with all rights and obligations, provided that the necessary conditions are met and legal permissions are obtained. Additionally, within the scope of this sale, our financial receivable, amounting to $4,324,324 (ILS 15.85 million), will be collected from Edeltech Energy Lines Ltd. and Edeltech.

The transaction is subject to various conditions, including receiving regulatory approvals and the approvals of related bodies.